Svmuu reported that according to Lookonchain monitoring, a newly created wallet address 0xcc3A recently deposited approximately 4.5 million USDC into the decentralized derivatives platform Hyperliquid, and subsequently placed a limit order to short $SPCX.
The trading activity shows that the address adopted a batch limit shorting strategy, which is widely interpreted by the market as betting on a trading structure where SPCX first rises amid the IPO-related market movements, followed by a sell-off and pullback (pump and dump).
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A newly created wallet deposited 4.5 million USDC into Hyperliquid to short SPCX, suspected to be betting on a pump-and-dump pattern after the IPO.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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